Universal Biosensors Inc
ARBN 121 559 993
1 Corporate Avenue
Rowville VIC 3178
Australia
Telephone +61 3 9213 9000
Facsimile +61 3 9213 9099
Email info@universalbiosensors.com
www.universalbiosensors.com
9 September 2011
Universal Biosensors, Inc. (ASX code: UBI) today announced that its wholly owned operating subsidiary Universal Biosensors Pty Ltd has entered into a collaboration agreement with Siemens Healthcare Diagnostics, Inc. (Siemens), forming a strategic partnership for the development and commercialisation of products for the point-of-care coagulation testing market.
The joint press release in relation to the strategic partnership is enclosed with this announcement.
Under the partnership, Universal Biosensors will develop a range of test strip and reader products. The first test to be developed will be a modified version of Universal Biosensors' PT/INR test, followed by other tests in the coagulation market. Universal Biosensors will also leverage its manufacturing expertise and resources to manufacture and supply the developed test strips to Siemens.
Siemens is one of the world's largest suppliers to the healthcare industry and a leader in the haemostasis market. Siemens will register, market and sell the developed products globally.
The worldwide market for point-of-care testing products is estimated to be approximately $15 billion annually. The market for point-of-care coagulation testing products represents over $750 million of this market, with PT/INR testing the largest single segment, and is expected to grow significantly over the next 10 years.
Universal Biosensors will receive an initial technology access fee of US$3 million, payable shortly after the date of this announcement. In addition, Universal Biosensors will receive 6 payments upon achievement of milestones relating to feasibility, regulatory submissions and launch of the products to be developed. As products are commercialised, Universal Biosensors will generate revenues from each strip manufactured, on pre-agreed terms. Under the terms of the collaboration agreement, the payments and corresponding milestones are confidential to Siemens.
UBI CEO Paul Wright said, "This deal represents an important and exciting step forward for UBI. It validates our technology and capabilities outside the field of diabetes care, establishes a further partnership with a global healthcare leader and creates an exciting framework for future earnings from our technology."
The partnership does not cover patient self testing in the coagulation market which represents a further opportunity for Universal Biosensors to exploit its PT/INR testing technology.
The SEC Form 8-K which summarises the material terms of the collaboration agreement is also enclosed. A redacted form of the collaboration agreement will be filed with UBI's next quarterly Form 10-Q SEC filing.
Enquiries:
Mr Paul Wright: 03 9213 9000
About Universal Biosensors
For additional information in relation to Universal Biosensors, refer to
http://www.universalbiosensors.com/announcements.html.
Universal Biosensors is a specialist medical diagnostics company, founded in 2001, that is focused on the development, manufacture and commercialisation of a range of in vitro diagnostic tests for point-of-care use. These tests capitalise on a technology platform which uses a novel electrochemical cell that can be adapted for multiple analytes and provide for enhanced measurements in whole blood.
Forward-Looking Statements
The statements contained in this release that are not purely historical are forward-looking statements within the meaning of the Exchange Act. Forward-looking statements in this release include statements regarding our expectations, beliefs, hopes, intentions or strategies regarding the proposed offering. All forwardlooking statements included in this release are based upon information available to us as of the date hereof, and we assume no obligation to update any such forward-looking statement as a result of new information, future events or otherwise. Our actual results could differ materially from our current expectations. We cannot assure you when, if at all, the proposed offering will occur, and the terms of any such offering are subject to change. Factors that could cause or contribute to such differences include, but are not limited to, factors and risks disclosed from time to time in reports filed with the SEC.
Agreement will deliver novel handheld analyzers for the point-of-care hemostasis testing market
Melbourne, Australia and Tarrytown, New York, September 9, 2011 ¡V Universal Biosensors and Siemens Healthcare Diagnostics have signed a strategic partnership to launch a new point-of-care (POC) coagulation testing platform for the global hemostasis market. This agreement harnesses Universal Biosensors' opposing electrode technology as well as Siemens' strong market positions in both the central laboratory and POC settings, along with its innovative know-how in creating advanced hemostasis testing solutions. Together, the companies will develop, manufacture and distribute a series of novel handheld POC coagulation testing systems providing unique value and quality to healthcare professionals.
Leveraging a growing demand for near-patient testing solutions, including those that deliver timecritical coagulation data, Universal Biosensors and Siemens will focus on offering new technologies that deliver laboratory-quality results at the point of care. The first solution scheduled for release is a prothrombin time (PT) test. Additional products with enhanced menus and extended capabilities are anticipated over time.
"Siemens recognizes the growth in demand for laboratory-quality tests that can be conducted near patients to produce reliable, immediate results," said David Stein, Ph.D., CEO, Point of Care Business Unit at Siemens Healthcare Diagnostics. "As a hemostasis market leader, we're excited about our new partnership with Universal Biosensors to help further extend our broad POC testing position and to ensure the delivery of innovative new solutions that enable physicians to make faster, more informed decisions for improved patient care."
"We are delighted to establish this relationship with Siemens Healthcare Diagnostics," said Paul Wright, CEO of Universal Biosensors. "In partnership, we are well placed to provide highly accurate, cost-effective solutions for the POC market, and we look forward to a long-term collaborative relationship with Siemens."
For more information, please visit http://doc.irasia.com/listco/au/universalbiosensors/press/p110909.pdf.
| © Copyright 1996-2019 irasia.com Ltd. All rights reserved. |
|
DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any
information provided on this website. Under no circumstances shall irasia.com Ltd be liable
for damages resulting from the use of the information provided on this website.
TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website. |